EAA/ANN AirVenture Innovation Preview

Deal Should Be Complete By September

Parker Hannifin Corporation and NXT
LLC today announced they have reached an agreement in principle for
NXT to purchase the AFIS (Automatic Flight Inspection System)
product line, from Parker's Aerospace Group for an undisclosed
amount. The system currently accounts for less than $1 million of
Parker's total sales. Based in Oklahoma City, NXT plans on
aggressively pursuing the domestic and international flight
inspection marketplace. The divestiture is expected to be completed
by the end of September, subject to negotiation and execution of
definitive documentation and receipt of necessary government
approvals.

"NXT and Parker Hannifin will work together to ensure the
integrity of the AFIS product line, which has a long history of
support for the US domestic and international aviation
communities," said Richard Gucciardo, Parker Aerospace Group.

"We look forward to the opportunities that the addition of the
AFIS product line will provide both domestically and
internationally," said John Heiderstadt, VP, Operations, NXT LLC.
"We are confident our staff's expertise will deliver quality
support and innovation in the field of flight inspection."